2004 (11) TMI 200

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..... 35/WZB/04, dated 3-2-2004 [2004 (176) E.L.T. 239 (T)]. The Tribunal in the order cited supra partially allowed the appeal before it by reducing the penalty under Section 11AC and setting aside the penalty on the Managing Director. The Tribunal otherwise upheld the order of the lower appellate authority. 2. Briefly the facts are that the appellant took Modvat credit on the short received goods as .....

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..... fter they received their claim from the insurance company. There is a mistake apparent in the final order of the Tribunal. I, accordingly modify the order contained in para 5 of the impugned order of the Tribunal. The rectified order would now read as follows : "Accordingly, I reduce the penalty under Section 11AC from Rs. 4,69,077/- to Rs. 50,000/- and set aside the penalties imposed on Shri Sa .....

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